Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
The 30-share Sensex ended down 183 points at 19,851 and the 50-share Nifty closed 76 points lower at 5,955.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
All efforts should be on relief, restoration and rehabilitation, Nadda told reporters in Shimla after visiting the rain-affected areas of Poanta in Sirmaur and Shimla town.
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
Benchmark stock indices Sensex and Nifty cut short their four-day gaining streak to close lower by half a per cent on Wednesday due to profit-taking in banking oil and metal stocks amid weak trends in global markets.
'Kindly advise about the following stocks. Can I hold or exit?'
One of the mistakes most homemakers make while thinking about financial planning is looking at immediate goals, says Amar Pandit.
'If you are invested in mid-cap and small-cap stocks, even if you are making losses right now, it is better to sell them now and sit on cash.'
Rajan tells RBI colleagues he will be returning to academics
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by Dr Reddy's, NTPC, Maruti, Axis Bank, Bajaj Auto, Bharti Airtel and HDFC. NSE Nifty declined 76.15 points to 15,691.40.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
The buyback price is at around 28 per cent premium to the current market price of Rs 67 on the Bombay Stock Exchange
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
Engineering, telecom and healthcare sectors are likely to add close to 12 million new jobs by FY26, largely due to the focus on recovery along with technology proliferation and digitisation in these segments, according to a report. A report by TeamLease Digital, the staffing division of TeamLease Services, said specialised staff or professional staff with high-skill and expertise will form nearly 17 per cent of the overall jobs created. The report -- titled 'Professional Staffing - Digital Employment Trends Report' -- is a qualitative research that has surveyed and interviewed more than 750 employers/ leaders from across engineering, telecom and healthcare sectors.
The financials of six privately held companies associated with Siddhartha show an increase in debt and falling ability to meet short-term obligations.
'We remain positive on technology, private sector financials, gas, infrastructure, and export-oriented plays.'
The fresh restrictions imposed in Maharashtra to contain the second wave of COVID-19 are likely to impact the festive season auto sales, as Navaratri and Gudi Padwa are falling in April, according to rating agency Icra. These two festivals account for a sizeable chunk of the annual vehicle sales across the country, especially in Maharashtra, it said. Gudi Padwa, which is a major festival of Maharashtra, will be celebrated on April 13, while Navrarati will also begin on the same day.
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
There has been sizeable rise in external commercial borrowing and and rupee denominated Non-resident Indian deposits.
'There was trust, but perhaps there was also this apprehension that given the supreme post of prime minister, Sonia Gandhi felt her authority may be a challenged.'
India's first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market. As per initial schedule, Zomato's listing was to take place on July 27. However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline. Under the Sebi framework, the timeline between IPO closing and listing has to be six working days. Zomato's IPO had closed on July 16.
The central bank measures though are also taking a toll on the banking sector, which is heavily reliant on short-term money markets for capital.
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It depends on the assessing officer's interpretation. To be on the safe side, have a separate trading account.
Northern and western states had the highest power demand, with Uttar Pradesh sourcing 19,082 Mw, Delhi 6,029 Mw, Rajasthan 10,395 Mw, Gujarat 16,825 Mw, and Maharashtra 23,609 Mw.
Share of commercial borrowings was highest at 35.4 per cent of total external debt, followed by non-resident Indians' deposits at 23.8 per cent and multilateral debt at 11.7 per cent.
The latest cuts come after the company announced earlier this year that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. "Given the uncertain economy... and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount," Jassy said in a memo to staff.
Benchmark indices Sensex and Nifty retreated from over one-week highs to close lower on Wednesday due to profit booking in banking, IT and metal stocks amid weak global trends. After a two-day rally, the 30-share BSE Sensex dropped by 90.99 points or 0.16 per cent to settle at 57,806.49 in volatile trade. As many as 19 of its constituents declined while 11 advanced. The broader Nifty slipped by 19.65 points or 0.11 per cent to close at 17,213.60 with 31 of its stocks ending in the red.
When the Constitution is viewed from the context in which it emerged, it is nothing short of remarkable, he asserted.
"While you were squeezing the life out of your wife, your children can be heard crying in the background for their mummy. It is clear that they heard what was going on and knew that she was being hurt by you," the judge noted in his sentencing remarks.
Modi is visiting the African country from August 22 to 24 at the invitation of South African President Cyril Ramaphosa. South Africa is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa, since 2019.
Several pollsters have predicted that the Congress may have an edge in Karnataka, which is BJP's southern citadel, in a hung assembly with a couple of them even projecting that the grand old party may get a majority on its own.
Tax Guru Anil Rego answers your personal income tax queries.
Retailers want rental waivers should be extended for a few more months, since business is not expected to pick up before the Dussehra-Diwali period, which falls in October-November.
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